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There are so many opportunities out there to create residual income in network marketing. However, this is NOT one of those shady things. These are legit ways for you to make money while you sleep using something that satisfies your passion, experience, or skill-set.
Real estate can be a terrific way to generate money while you sleep. But because it costs a lot to buy a home, using a crowdfunding system to invest in property can be a more affordable option.
If you want an easy, low-cost way to invest in income-producing commercial property, consider using a company like Fundrise. You only need $500 to get started and you can invest in more than 48 property products through property investment trusts.
Another company to consider is Rich Uncles since you can begin investing in real estate with just as small as $5.
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Although they promote an option to start with $500, once you enroll for free you can navigate their offerings. They actually have a Student Housing REIT that has a minimum investment of $5.
Their intention is to make real estate investing available to everyone and that's exactly what they are doing.
Dividend income is money paid to investors of stocks in the form of cash in your bank account. Dividend-paying stocks are particularly enticing for those wanting to make a living with passive income, since they will get payouts every quarter or so. Even Warren Buffet historically is a fan of dividend-paying stocks. .
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If you are going to go this route, make certain you educate yourself and select solid stocks so you can depend on for dividend income for many years to come.
Peer-to-peer lending is when you loan other people money who dont qualify for traditional financing. With investment returns in the 3-8% range, investing money using a company like Lending Club can get you much higher income outcomes than a common savings or money market account.
If you are looking for a lower risk option, check out Worthy. They offer $10 bonds and cover a 5% return. One unique thing about these is that official statement your money is liquid, so you can take it out at anytime.
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This means if for any reason you need your money back, you can get it quickly and easily.
The money youre paying in interest to creditors, the more money you've got in your pocket each month. Talk about a very simple kind of passive income. Getting out of debt fast can increase your income even more since youre no longer paying interest to lenders each month.
One way to boost your debt payoff is to lower your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, check out Credible, which features loan rates as low click here for more info as 4.99% to refinancing your credit card debt.
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Are you looking for a low-risk method to make passive income Then look at opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent which is unreal.
While this wont make you filthy rich, it will be a safer way to make consistent income and not lose your money since CIT FDIC insured.
Once the initial work of creating the book is done, selling books can be a great method to create some severe residual income.
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Once your book is available on a site like Amazon, you can get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer you spend marketing your books, the more money youll make.
You can hire a maid service to clean and prep the space following a suspect leaves. This will eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 per month renting out their bedrooms.
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If you've got a site already then this really is a no-brainer. Some folks are making over $50,000 per month like Michelle who teaches others how to earn money online with her class Making Sense of Affiliate Marketing.
In case you dont have a website, you can begin one for less than $3/month. Thats the price for getting a website sponsor a company that stores your site on servers so it can be seen on the Internet.  Click here to find special pricing of $2.95/month with Bluehost.